Individual report of approximately 1,000 words Coursework

Individual report of approximately 1,000 words - Coursework Example nancial gain through gain in sales, reduced cost of operation, reduction in project overruns and reduction in the time taken to create strategic changes. The performance management objective also involves motivating the workforce by optimizing plans, improving employee engagement, creating transparency, and conducting professional development programs. For improved management control - a flexible, responsible management is required. The management should display data relationships, help audit and comply with the legislative requirements, simplify communications and provide documented system for communications. Spreadsheets are electronic tools similar to various other IT tools; however the code and underlying structure is unknown (MacMillan, 2000). The main advantage of using spreadsheet is that it is easy and simple to use. Moreover, no specific training is needed for using spreadsheets and employees can easily create, distribute, manipulate and access the data of spreadsheets. However, there exist risks of uncontrolled spreadsheet used, which should be analysed to reduce errors. Spreadsheets are used for countless business functions and accounting calculations. It can be used for tracking workflow, for creating accounting estimates and for key financial reporting. Spreadsheets provide instant snapshots of a situation, which can be used for driving critical decisions. The research is based on production and service data of a firm which has been used to calculate the total expense and derive the selling price of finished products. The allocated costs related to printing, finishing, quality control and material handling has been provided in columns along the labour hours and machine hours. The expense on employees, requisitions and maintenance is also given to get the calculations. The relocation cost of the admin department is derived from the formula - Allocated Costs per Employee x Employees without Administration (for printing). Excel sheet has been used